Care Ratings upgrades Shriram Finance's NCD ratings to AAA; CP at A1+

Care Ratings upgraded Shriram Finance's NCD and subordinated debt ratings to AAA and reaffirmed its commercial paper rating at Care A1+, citing FY25 and H1FY26 performance

Shriram Finance on Monday said domestic rating agency Care Ratings has upgraded the ratings on its non-convertible debentures (NCDs) and subordinated debt to “AAA”. The ratings on its commercial paper have been reaffirmed at Care A1+.

 

What did Care Ratings cite for the upgrade?

 

According to the rating agency, the upgrade was based on recent developments, including the company’s operational and financial performance for FY25 (audited) and H1 FY26 (unaudited), and the likely impact of these factors on its overall credit profile.

 

How does MUFG’s planned investment fit into recent developments?

 

Earlier this month, Japan-based MUFG Bank, a consolidated subsidiary of Mitsubishi UFJ Financial Group (MUFG), said it will invest Rs 39,618 crore, or about $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.